EUR/USD Forecast October 23, 2014, Technical Analysis

The EUR/USD pair broke lower during the course of the day on Wednesday, sending this market looking for the 1.2650 handle. It appears that we are ready to go lower, and at this point time we feel that any rally should be treated with suspicion and probably sold. With that, we feel that the market goes to the 1.25 handle, and much lower, possibly the 1.2050 level based upon longer-term charts. We have no interest in buying this market, at least not until we get above the 1.30 handle, something that is not going to happen anytime soon.